Merck (MRK) said Friday that it is asking its shareholders to reject TRC Capital Investment's unsolicited "mini-tender" offer to buy up to 1 million Merck shares at $96.38 per share.
The offer price is about 4.3% below the closing price of Merck's shares on Nov. 11, which was the last trading day before the date of the offer, Merck said.
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